Cenovus announces closing of MEG Energy acquisition [Canadian Business Journal (Canada)]
Cenovus Energy Inc (CVE)
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Source: Canadian Business Journal
CALGARY, Alberta, Nov. 13, 2025 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is pleased to announce that its acquisition of MEG Energy Corp. (TSX: MEG) (MEG) was completed today. This acquisition strengthens Cenovus’s portfolio of long-life, low-cost oil sands assets, adding top-tier operations that are directly adjacent to the company’s Christina Lake asset.Total consideration paid by Cenovus included:“The addition of MEG assets and people will have an immediate positive impact on Cenovus,” said Jon McKenzie, Cenovus President & Chief Executive Officer. “The strategic fit is exceptional, the assets are of the highest quality and the synergies we have identified will create significant value over both the short and long term.”The acquisition immediately adds approximately 110,000 barrels per day of low-cost, long-life oil sands production to Cenovus. Cenovus will provide updated guidance to reflect the MEG acquisition with its 2026 budget on December 11, 2025.The MEG
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